One of the worst kept ‘dirty little secrets’ in the Sales Performance administration world is the difficulty in managing the Sales Compensation process in a timely, accurate and yet efficient manner without being derailed by some of the myriad challenges that abound. One of the biggest challenges that rear’s its ugly head is the need to wade through the morass of a large number of adjustments every payroll period while simultaneously trying to maintain error free levels of quality and hit payroll 100% of the time. Lets face it, adjustments take many forms and never seem to occur at a convenient time.
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Topics:
EVP/Sales Leader,
CTO,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources,
Sales Operations,
Sales Professional,
Data Quality
Over the course of many years in this field, I can say without reservation that data quality is one of the cornerstones to a solid sales compensation process. Due to the nature of this beast, it is often a hidden aspect to the process and often rears its head only when the quality of your data is poor. Think of it, if you are one of those fortunate enough to have a relatively high quality pool of performance data, when was the last time someone appreciated that fact and all the work that went into creating that high quality information? The alternative is those who struggle with issues related to data quality and quite frankly there are few things that can hamstring your sales performance improvement efforts more than poor data quality. When this occurs, the two steps forward, three steps back grind overtakes your process affecting everyone from sales reps to analysts, and all the senior managers to whom these producers report.
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Topics:
EVP/Sales Leader,
CTO,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources,
Sales Operations,
Sales Professional,
Data Quality
Much has been written about the role of Non-Cash incentives as an employee motivational tool. This approach provides tangible rewards that don't directly involve cash as an incentive for achievements that align with corporate goals.
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Topics:
Sales Comp Plan Fundamentals,
EVP/Sales Leader,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources,
Sales Operations,
Sales Professional
When you have 5 minutes (6:39 to be exact), Ryan Johnson's (WorldatWork) interview with Dave Chicelli (Alexander Group) is a great investment of your time. While the 2012 interview is a bit dated , there are several theme's Dave and Ryan pull from the 2012 Sales Comp Trends survey data which are timeless. As a big fan of data based decision making, the fact that the insights are gleaned from data trends observed over a 10 year time span makes this all the more impressive.
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Topics:
EVP/Sales Leader,
CTO,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources,
Sales Operations,
Sales Professional
A comment made by Marco Madero of Aon Hewitt at a recent regional meeting of the Sales Management Association really piqued my interest when he referenced some survey data that indicated only 15% of companies actually track Compensation Cost of Sales (CCOS). My preliminary research seemed to back that statement up and I thought it would be a great time to take a closer this very powerful metric and discuss some of the nuances to using this as a means of identifying key trends within your sales organization.
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Topics:
Sales Comp Plan Fundamentals,
EVP/Sales Leader,
CFO/Finance Leader,
Sales Compensation Professional,
CEO,
Human Resources
